The European Commission is reportedly set to give its approval for Google’s acquisition of Photomath, an AI-powered popular mobile app that lets users easily solve their math questions, as reported by Reuters.
Founded in 2014 by Damir Sabol, who had the idea after struggling to help his son with his math homework, Croatia-based Photomath has been downloaded by over 300 million times on the Play Store and App Store so far. In February 2021, the company raised $23 million in a Series B funding round led by Menlo Ventures, with participation from GSV Ventures, Learn Capital, Cherubic Ventures and Goodwater Capital.
Last month, a European Commission filing reported by Reuters revealed that EU regulators set a March 28 deadline to decide on Google’s acquisition of Photomath.
A spokesperson for Google confirmed the acquisition at the time, saying that they ‘’entered into an agreement to acquire Photomath in May 2022, subject to regulatory review’’.
“Photomath’s technology will help Google to enhance its ability to provide better math learning experiences to students, helping to build out Google’s homework help offerings for users,” the spokesperson added.
While there are only five days until regulators’ deadline, sources familiar with the matter told Reuters that Google is set to receive ‘’unconditional EU antitrust clearance for its acquisition’’.